Lighter Capital secures $130m in funding facilities to fuel revenue-based financing for tech firms
Lighter Capital is aiming to fund “hundreds” of early-stage technology companies.
Lending
Goldman Sachs to wave goodbye to GreenSky as proposed sale enters final stages
Some offers for the Atlanta-based fintech are reportedly topping $800 million.
Maybank Investment Bank taps Broadridge for securities borrowing and lending offering
Broadridge claims the platform will provide better customer experience and cost management for the bank.
Trustly acquires French paytech SlimPay for a reported €70m
The acquisition is subject to regulatory approvals.
India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
Better.com’s share price stumbles on Nasdaq debut
The New York-based digital mortgage lender went public through a SPAC merger this week.
Alpha Bank acquires Orange Money’s Romanian retail business
Alpha Bank Romania is aiming to become “one of the key players in the Romanian digital banking space”.
ICYMI fintech funding round-up: Zanifu, Koverly, Micronotes & more
Our weekly fintech round-up for you to get the latest funding news from around the world.
LemFi bags $33m in Series A funding round to fuel global expansion
LemFi was founded in 2020 to provide immigrants with better access to financial services.
Auxmoney buys majority stake in Dutch credit marketplace Lender & Spender
With the stake, Auxmoney plans to build upon its “continuous organic growth” of recent years.
Cambridge & Counties Bank secures £20m Tier 2 facility from British Business Investments
With the fresh facility, Cambridge & Counties Bank aims to increase its volume of lending to small businesses.
EIF provides Lithuania’s SME Finance with €40m to fund small business lending
SME Finance CEO says the agreement with EIF allows it to offer financing to businesses “on significantly better terms”.
Moniepoint gets the go-ahead to acquire Kenyan fintech Kopo Kopo
For Moniepoint, which operates in Nigeria, the acquisition allows it to expand its footprint into Kenya.
Brazilian fintech Nomad secures $61m in fresh funding
The funding was led by Tiger Global Management, with participation from existing investors
Cynergy Bank lands £20m funding from British Business Investments
The bank plans to facilitate more than £250m in new-to-bank lending across the SME and property sectors.
Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Video: The top trends to watch in fintech
Three seasoned investors discuss which fintech trends the industry should be keeping an eye on.
GoLogiq signs letter of intent to acquire Fram Venture 7 and SME lender DragonLend
The $6 million deal is to be completed via an all-stock transaction by September.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Video: What’s hot and what’s not in fintech
We ask three seasoned fintech investors what’s hot and what’s not in the fintech sector this year.
Cebuana Lhuillier Bank taps Temenos for core banking platform
Temenos has tasked its delivery partner, Orion Innovation, with implementing the new core.
Turkish fintech Param acquires BNPL firm Twisto to boost European expansion
Param plans to leverage Twisto’s licences to offer its embedded financial solutions across Europe.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
The Savings Bank Group of Finland taps Tietoevry to replace lending platform
The Savings Bank Group says the new lending platform will enhance its digital offerings and operational efficiency.
UK fintech start-up Fronted closes down
Fronted was founded in 2019 by former employees of Bud Financial, Monzo and Apple.
Discover Financial Services’ CEO and president Roger Hochschild steps down
Hochschild will serve in an advisory role at the company until the end of the year to ensure a smooth transition.
Better.com gears up to go public through SPAC merger
According to an SEC filing, the merger is set to close “on or about” 22 August 2023.
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
Specialist lender Shawbrook reportedly mulling Co-operative Bank merger
Sky News reports Shawbrook has approached the Co-operative Bank’s owners about a potential deal.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
Mobility fintech Moove secures $76m funding to fuel global expansion
The latest investment brings Moove’s total funding to date to over $335 million across equity and debt.
Italy’s government to tax banks on profits from interest rate rises
The Italian parliament has 60 days to bring the proposed tax into law.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
FCA warns consumers against loan fee fraudsters amid rising summer borrowing
The average loss to loan fee fraud in the UK is £260.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
Hong Kong fintech Micro Connect raises $458m Series C funding
According to Forbes Asia, the funding round values the start-up at $1.7 billion, making it Hong Kong’s latest unicorn.
